Arista Networks' (ANET) "Sell" Rating Reiterated at Rosenblatt Securities

Rosenblatt Securities reissued their sell rating on shares of Arista Networks (NYSE:ANET - Free Report) in a report published on Tuesday morning,Benzinga reports. Rosenblatt Securities currently has a $80.00 target price on the technology company's stock.

Several other equities analysts have also recently issued reports on the company. The Goldman Sachs Group upped their price objective on Arista Networks from $120.00 to $135.00 and gave the company a "buy" rating in a research report on Friday, January 17th. Wells Fargo & Company upped their price objective on Arista Networks from $97.50 to $115.00 and gave the company an "overweight" rating in a research report on Wednesday, October 30th. Barclays reduced their price target on shares of Arista Networks from $495.00 to $125.00 and set an "overweight" rating for the company in a research note on Wednesday, December 4th. StockNews.com lowered shares of Arista Networks from a "buy" rating to a "hold" rating in a research note on Thursday, December 12th. Finally, Evercore ISI lifted their price target on shares of Arista Networks from $110.00 to $130.00 and gave the stock an "outperform" rating in a research note on Friday, January 17th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $113.79.

Arista Networks Stock Down 4.9 %

Shares of NYSE:ANET traded down $5.10 on Tuesday, hitting $98.31. 13,984,341 shares of the company traded hands, compared to its average volume of 10,062,921. Arista Networks has a 52 week low of $60.08 and a 52 week high of $133.57. The stock has a 50 day simple moving average of $113.94 and a 200-day simple moving average of $101.57. The company has a market cap of $123.84 billion, a PE ratio of 44.28, a PEG ratio of 2.79 and a beta of 1.09.

Arista Networks (NYSE:ANET - Get Free Report) last issued its quarterly earnings results on Tuesday, February 18th. The technology company reported $0.59 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.02. Arista Networks had a return on equity of 29.91% and a net margin of 40.72%. The firm had revenue of $1.93 billion during the quarter, compared to the consensus estimate of $1.90 billion. As a group, sell-side analysts anticipate that Arista Networks will post 2.18 earnings per share for the current year.

Insider Activity

In other Arista Networks news, SVP Kenneth Duda sold 80,000 shares of the firm's stock in a transaction that occurred on Friday, December 6th. The shares were sold at an average price of $108.29, for a total transaction of $8,663,200.00. Following the sale, the senior vice president now owns 12,976 shares in the company, valued at approximately $1,405,171.04. This trade represents a 86.04 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider John F. Mccool sold 288 shares of the firm's stock in a transaction that occurred on Monday, December 9th. The stock was sold at an average price of $108.70, for a total transaction of $31,305.60. The disclosure for this sale can be found here. Insiders sold a total of 260,056 shares of company stock valued at $30,225,623 in the last 90 days. Company insiders own 3.54% of the company's stock.

Institutional Investors Weigh In On Arista Networks

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Arista Networks by 304.2% in the fourth quarter. Vanguard Group Inc. now owns 96,084,951 shares of the technology company's stock worth $10,620,270,000 after acquiring an additional 72,311,318 shares during the period. FMR LLC boosted its stake in shares of Arista Networks by 330.9% in the fourth quarter. FMR LLC now owns 57,648,129 shares of the technology company's stock worth $6,371,848,000 after acquiring an additional 44,269,572 shares during the period. Cresset Asset Management LLC boosted its stake in shares of Arista Networks by 277.5% in the fourth quarter. Cresset Asset Management LLC now owns 27,288,583 shares of the technology company's stock worth $3,016,207,000 after acquiring an additional 20,059,303 shares during the period. Geode Capital Management LLC boosted its stake in shares of Arista Networks by 311.6% in the fourth quarter. Geode Capital Management LLC now owns 24,165,355 shares of the technology company's stock worth $2,665,829,000 after acquiring an additional 18,293,874 shares during the period. Finally, Alliancebernstein L.P. boosted its stake in shares of Arista Networks by 218.5% in the fourth quarter. Alliancebernstein L.P. now owns 21,070,016 shares of the technology company's stock worth $2,328,869,000 after acquiring an additional 14,454,822 shares during the period. Institutional investors own 82.47% of the company's stock.

About Arista Networks

Arista Networks, Inc engages in the development, marketing, and sale of data-driven, client to cloud networking solutions for data center, campus, and routing environments in the Americas, Europe, the Middle East, Africa, and the Asia-Pacific. Its cloud networking solutions consist of Extensible Operating System (EOS), a publish-subscribe state-sharing networking operating system offered in combination with a set of network applications.